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☆ The 'Chinese Warren Buffett' wrote a glowing tribute likening the late Charlie Munger to Buddha and Confucius
▼ + stars: | 2023-12-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Li Lu, the "Chinese Warren Buffett," penned a tribute to his late mentor Charlie Munger. Li earned Munger's acclaim after he nearly quintupled Munger's $88 million investment in his fund. AdvertisementA hedge fund manager the late Charlie Munger once called the "Chinese Warren Buffett" has penned a glowing tribute to his mentor and friend, likening Munger to "an enlightened sage." Li penned a tribute to his late mentor in a Facebook post published on Friday. AdvertisementThe feelings between Li and Munger appear to be mutual, with Munger once saying that Li would become one of Berkshire Hathaway's top investment chiefs.

Persons: Li Lu, Warren Buffett, Charlie Munger, Li, Munger, —, it's Organizations: Service, Berkshire Hathaway's, Wall Street, Business Insider Locations: Himalaya, Munger, Thailand, Charlie, China, India, Berkshire

Until the embittered end, Henry Kissinger was one of the trusted few of a distrusting Richard Nixon. Political Cartoons View All 1273 Images“No doubt my vanity was piqued,” Kissinger later wrote of his expanding influence during Watergate. Two years later, Saigon fell to the communists, leaving a bitter taste among former U.S. allies who blamed Nixon, Kissinger and Congress for abandoning them. “The emigration of Jews from the Soviet Union is not an objective of American foreign policy,” Kissinger tells Nixon. And so they did — the Quaker-born Nixon, the Jewish-born Kissinger, on the floor, Nixon in tears about the unfairness of his fate.

Persons: Henry Kissinger, Richard Nixon, Kissinger, Nixon, Gerald Ford, ” Kissinger, ” Ford, “, ”, Donald Trump’s, Trump, ” —, —, — Kissinger, Robert Dallek, Walter Isaacson, David Frost, Isaacson, scrawled, Susan Mary Alsop, Stanley Kutler, “ Henry Kissinger, Jeffrey Kimball, starlets, Kissinger squired, Jill St, John, Shirley MacLaine, Marlo Thomas, Candice Bergen, Liv Ullmann, ” Nixon, H.R, Haldeman, Henry, It’s, Nancy Maginnes, Nelson Rockefeller, Gallup, Le Duc Tho, Tho, Walter, ” Walter, “ Kissinger, Ford, you’ve, ” “, ABC’s George Stephanopoulos, Kissinger demurred, Chile’s, Eisenhower, Augusto Pinochet, Pinochet, ” Peter Kornbluh, ” Heinz Alfred Kissinger, Heinz, Joe DiMaggio ”, Kennedy, Johnson, he’d “, William Rogers, Melvin Laird, Townsend Hoopes, deflating, ” Isaacson, Jimmy Carter, Ronald Reagan’s, diplomat’s Kissinger, George W, Bush, Long, didn’t, Bush “, Anneliese Fleischer, Elizabeth, David, extol Nixon, ” ___, Barry Schweid Organizations: WASHINGTON, Republican, Democratic, “ PBS, ”, National Security Council, State Department, Vietnam, Nixon, Hollywood, Playboy, Newsweek, America, Columbia University, Senate Armed Services Committee, White, Washington Post, New York Times, Yankee, Army, Harvard, Weapons, Rogers, Defense, Manhattan, New York Giants, Lincoln, diplomat’s Kissinger Associates, GOP Locations: U.S, Vietnam, China, Nazi Germany, Southeast Asia, Latin America, United States, Saigon, Soviet Union, White, Cambodia, South Vietnam, Khmer Rouge, Soviet, America, Chile, London, Pinochet, Bavarian, Fuerth, Manhattan, Germany, Pakistan, Beijing, Iraq, Afghanistan, American

☆ 'She Shreds': Skateboarding Girls up Their Game at California Contest
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

At the 12th annual Exposure Skate competition this month in the California beach town of Encinitas, girls under 10 and in their teens were shredding. "I hope girls' skateboarding improves even more and we can push each other and beat the boys," Suganami added with a laugh. Parents of the skateboarding girls are equally stoked by the expertise and the attention. "They are missing that girls are the future of skateboarding and girls can be good at skateboarding too," said Lulu Johnson. "So what you will see if you go to a skate park or skateboarding contest, is the competitors are cheering each other, supporting each other.

Persons: Mike Blake ENCINITAS, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mike Blake, Mary Milliken, Lincoln Organizations: Reuters Locations: Mike Blake ENCINITAS , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

Persons: Jordyn Barratt, Mike Blake, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mary Milliken, Lincoln Organizations: REUTERS, Reuters, Thomson Locations: Hawaii, Encinitas , California, U.S, , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

☆ Buffett's Berkshire posts bigger loss as stocks fall; operating profit sets record
▼ + stars: | 2023-11-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

Operating profit rose 41% to $10.76 billion, even as Berkshire's net loss more than quadrupled to $12.77 billion. "Against that backdrop it's not surprising that Berkshire's consumer and housing-related subsidiaries are seeing pressure," she said. "Berkshire is disciplined," said Tom Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania who has owned Berkshire stock since 1982. Berkshire's net results swing widely because accounting rules require the company to report investment gains and losses even if it buys and sells nothing. His $117.5 billion net worth ranks fifth worldwide according to Forbes magazine.

Persons: Rick Wilking, Warren Buffett's, Jim Shanahan, Edward Jones, Cathy Seifert, extol, Buffett, Tom Russo, Gardner Russo, Quinn, Cash, Berkshire's, Ian, Geico, Shanahan, PACIFICORP, Haslam, Jonathan Stempel, Ira Iosebashvili, Jason Neely, Diane Craft Organizations: Berkshire Hathaway, REUTERS, Warren Buffett's Berkshire Hathaway Inc, Apple, Treasury, BNSF, Clayton Homes ., Berkshire, Forbes, . Berkshire, Thomson Locations: Omaha, U.S, Berkshire, Omaha , Nebraska, Lancaster , Pennsylvania, California, Florida , New Jersey, New York, United States, Israel

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

☆ Opinion | A Requiem for Diet Soda
▼ + stars: | 2023-07-27 | by ( Frank Bruni | ) www.nytimes.com time to read: +1 min

I mean the crunch-woosh of a can of diet soda being opened. It was Tab for a while and then, I think, Diet Rite — I get confused about the chronology. Tab, Diet Rite, Fresca, Diet Coke and their ever-expanding posse transcended mere beverage-dom. If Mom were alive today, would she still be drinking diet soda? Diet soda is at odds with self-esteem as many Americans now extol it, with wellness as they’ve come to practice it and, according to some studies and some critics, with health.

Persons: Mom, —, Coke Locations: Worriedly

☆ Indiana Jones, John Williams and the Art of Music You Can Barely Hear - The New York Times
▼ + stars: | 2023-07-07 | by ( Frank Lehman | ) www.nytimes.com time to read: +12 min

I’ve been fascinated with film music since elementary school, when I got a cassette tape called “Kid Stuff: An Afternoon at the Movies,” which featured Mr. Williams and the Boston Pops. No one exemplifies this better than Mr. Williams, who is still composing at 91. Mr. Williams accomplished this by inviting the trumpet section of the London Symphony Orchestra to blast away in its most piercing register. As he has with other cues, Mr. Williams has given this particular set piece an afterlife in concert performances. Keep your eyes shut!” Maybe then we’ll stop passively hearing film music and begin actively listening to it.

Persons: Indiana Jones, John Williams, doesn’t, He’s, I’ve, Williams, ”, Dvorak, Stravinsky, Bach, extol, Gene Shalit, “, —, “ Indiana Jones, you’ll, Kate Capshaw’s, Willie Scott, That’s, it’s, Mickey Mousing, Emilio Audissino, Daniel Goldmark, ” Mr, Mickey Mouser, Guy ”, Mousing, Beyoncé’s, Marion Ravenwood, Marion Organizations: Raiders, “ Star, “ Raiders, Boston Pops, London Symphony Orchestra, Berlin Philharmonic, ”, Hollywood, “ Locations: “, Indiana

☆ At West Point Commencement, Kamala Harris Says Military’s Strength Lies in Diversity
▼ + stars: | 2023-05-27 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

Vice President Kamala Harris on Saturday became the first woman to address a graduating class at the U.S. Military Academy at West Point, and used the opportunity to extol the diversity of the American armed forces at a time of struggle over the military’s identity. In an 18-minute speech, Ms. Harris noted that the nation’s military had evolved in the last 75 years from an institution once dominated by white men to one more open to women and minority groups. While she did not mention the significance of her own historic appearance, her presence at the microphone on the field at West Point in New York spoke for itself. “To the class of 2023 and to all the cadets here today: You stand on the broad shoulders of generations of Americans who have worn the uniform, including many barrier breakers and trailblazers,” Ms. Harris told the graduating cadets in their gray-and-white dress uniforms. “In fact, this year, you celebrate the 75th anniversary of the integration of women in the military, as well as the desegregation of our military.”“These milestones are a reminder of a fundamental truth: Our military is strongest when it fully reflects the people of America,” she continued.

☆ ‘White Men Can’t Jump’ Taught a Master Class in Talking Smack
▼ + stars: | 2023-05-19 | by ( Calum Marsh | ) www.nytimes.com time to read: +3 min

What Billy understands, and what the movie so beautifully expresses, is that streetball is about more than merely who is the most accomplished player. When Billy drains a three-pointer in a shootout, Sidney nonetheless derides his style: “No aesthetic beauty whatsoever,” he jeers. Or as one of Sidney’s friend puts it, after Sidney’s more elegant three in reply: “A thing of beauty is a joy forever. Only “White Men Can’t Jump” has captured the power of talking smack. “You’d rather look good and lose,” he tells him, “than look bad and win.” It’s an apt diagnosis, but it cuts both ways.

☆ John Pappajohn, Iowa Venture Capitalist Who Focused on Medical Plays, Dies at 94
▼ + stars: | 2023-05-07 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

John Pappajohn estimated that he gave $100 million of his wealth to philanthropic causes. Photo: Andy Kropa/Invision/Associated PressJohn Pappajohn , a Greek immigrant in Iowa, was a young insurance agent when he heard the self-help author W. Clement Stone extol the advantages of a positive mental attitude. Emboldened by Mr. Stone’s advice, Mr. Pappajohn founded his own insurance company in the early 1960s. By the late 1960s, around the age of 40, he was getting bored with insurance. He noticed a Wall Street Journal article about venture capital, then a little-known field, and decided to take up that trade.

☆ The Company Making Luxury Stretch Pants Feel Indispensable
▼ + stars: | 2023-05-06 | by ( Rory Satran | ) www.wsj.com time to read: +1 min

The women’s work-pants hall of fame has its first postpandemic inductee: High Sport’s “Kick” cropped knit pants. The independent New York and Los Angeles brand was launched in 2021, but its luxurious, smoothing, stretchy trousers already have a zealous following. For the fashionable and well-resourced women who whisper brand names to each other in line for desk salads, or at school pickups from Pasadena’s Polytechnic to Manhattan’s Spence, these cult pants are apparently worth their $860 price tag. They’re favorites of fashion-obsessive types like Laurel Pantin and Leandra Medine Cohen, who extol their virtues in their respective newsletters. (High Sport says it very rarely gifts influencers.)

☆ I'm a bear when it's called for, like in 2007. But this stock market belongs to the bulls
▼ + stars: | 2023-04-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I have not been bombarded with as many warnings about how we are about to embark upon a wave of failures of all sorts — shadow banks, regional banks, commercial real estate lenders, real estate investment trusts — at any time since 2007. Let's take commercial real estate. I mention SL Green because it may be the most challenged of the REITs, real estate investment trusts, other than Vornado Realty Trust (VNO), a historically fine New York real estate concern, which just delayed its dividend. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Trump, other 2024 hopefuls seek NRA's blessing amid spate of shootings
▼ + stars: | 2023-04-14 | by ( Alexandra Ulmer | Thomson Reuters | U.S. National Affairs Correspondent Who Spent Four Years In Venezuela Covering President Maduro'S Administration | ) www.reuters.com time to read: +4 min

A number of hopefuls, including Trump's closest rival, Florida Governor Ron DeSantis, are deliberating if and when to jump into the 2024 race to challenge the former president for the nomination. Trump, whom the NRA enthusiastically backed in 2016 before he was even officially declared the Republican presidential candidate, will address gun aficionados in person on Friday. DeSantis, and other White House hopefuls, Nikki Haley and Senator Tim Scott, will do so by video message. Trump's campaign website says he will "always defend your Second Amendment right to keep and bear arms," but does not provide detailed policy proposals. For some fervent NRA members, however, neither Trump nor DeSantis are committed enough to the cause.

MOSCOW, March 29 (Reuters) - Russian President Vladimir Putin on Wednesday pointed to record low unemployment and marginally higher real wages as evidence of a gradual economic recovery, although data showed that consumer demand and industrial output dropped in February. Data from the Rosstat federal statistics service showed that unemployment dropped to 3.5% in February, a record low, while real wages, which are adjusted for inflation, rose 0.6% in January. Retail sales, a key gauge of consumer demand, fell 7.8% year-on-year in February, while industrial output dropped 1.7%. But that decline, combined with double-digit inflation meant that real disposable incomes fell 1% in 2022, according to Rosstat, with real wages only now starting to pick up again. "The population's wages and real disposable incomes have again started growing in real terms in the country as a whole," Putin said.

☆ Santander boss Botin expected to extol Europe, payout to sway investors
▼ + stars: | 2023-02-24 | by ( Jesús Aguado | ) www.reuters.com time to read: +5 min

Shares in Santander, the euro zone's second-biggest bank by market value, have fallen 47% since Sept. 10, 2014, while the European Stoxx 600 banks index (.SX7P) is down around 18%. "The bank will have a tailwind ... because half of the money comes from Europe. PAY-OUT FOCUSSome analysts expect a higher shareholder payout to be main plank of Santander's investor update in London. But lower valuations than European rivals and a better outlook for retail banks could help drive a share price rebound. Santander trades at a price to book value of 0.65%, compared to an average 0.73% from European peers.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ Walmart rolled out self-checkout to streamline operations and reduce labor needs — but employees and customers say it's causing a surge in theft
▼ + stars: | 2022-12-13 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart CEO Doug McMillon said stores could close if the rising tide of theft wasn't stemmed. Customers and employees blame self-checkout, which Walmart has increasingly relied on, for theft. Since McMillon made those comments, more than 100 Walmart customers and former and current employees have reached out to an Insider reporter to say the retailer must rely less on self-checkout. "They need to hire cashiers again and do away with so many self-checkout," Mindy Stanley, a Walmart customer from Ashland, Kentucky, said. Polly Kearns, a Walmart shopper from Gulfport, Mississippi, said the best way to protect against theft and make customers happy was to eliminate self-checkouts.

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